Lenovo expands capital in Spanish branch

MADRID | Lenovo, the Chinese PC giant, recently carried out two capital injections in its Spanish subsidiary. According to the business daily Cinco Días, on April 24 there was a capital increase of €36 million, with the total capital subscribed resulting in €37.47 million. A few days earlier, the company had made another injection of capital of €1.29 million. Isla Ramos, CEO of Lenovo in Spain, explained that such capitalisation is linked to an expansion of the company in Argentina,

“because since we bought from IBM its PC subsidiary, we have consolidated Argentina and Portugal in Spain.” Ramos said that, although the South American country is a small market for Lenovo, “the company has in Argentina its support centre for North America, and there is demand pressures to strengthen it.”

The move is also a response to the growth rate experienced by the multinational. Lenovo announced at the end of last week it had achieved record revenues of